NBTY plans to price $1.08 billion five-year notes this week

By Paul A. Harris

Portland, Ore., April 21 – NBTY, Inc. plans to price $1,075,000,000 of five-year senior notes (Caa1) on Thursday or Friday, according to a market source.

Joint bookrunner Barclays will bill and deliver. BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, UBS Investment Bank, Jefferies LLC and Mizuho Securities are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes become callable after two years at par plus 50% of the coupon and feature a two-year 40% equity clawback and a 101% poison put.

Proceeds will be used to repay debt and breakage costs.

The prospective issuer is a Ronkonkoma, N.Y.-based manufacturer, marketer, distributor and retailer of vitamins and nutritional supplements.

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